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S&P 500 Data only


Guest CocolinoFan

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Guest CocolinoFan

I was looking to buy into the S&P 500 index. But when I search "S&P500" in the IG platfrom I get the "US500" index. Comparing the prices I conclude that the US500 and the S&P500 are the same index. But why did IG change the name of the index? And lastly I am unable to buy or sale in this index. I get a red cross saying "data only". Please help

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Guest CocolinoFan

Good day @Caseynotes 

8 minutes ago, Caseynotes said:

when you say S&P 500 you could be meaning any of dozens of different indexes. 

I mean the original S&P500;  the index of 500 largest companies having common stock listed on the NYSE, NASDAQ, or the Cboe BZX Exchange. THE S&P500. I don't really understand why there is any confusion, it is arguably the most famous index in the world.

8 minutes ago, Caseynotes said:

For the 'data only' notice is that on a leveraged spread bet or cfd account? 

I'm not sure man. I just a normal account where you buy and sell actual shares. No leverage or anything.

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Hi @CocolinoFan, ok, the indices themselves are only available on leveraged accounts as they are a derivative and you are speculating on direction of movement and taking a position size rather than buying or selling an actual share. They are on the non-leveraged platform for reference only that's why you are getting the 'data only' notice.

To trade them you will need to open a spread betting (UK only) or a contract for difference (cfd) account.

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Guest CocolinoFan

@CaseynotesBut why is that? The US500 clearly has a price right? So are you able to buy "shares" in the index, but with the IG platform you can't do that and you are only able to speculate the direction of movement?

And one last thing: What do you mean " as they are a derivative" derivatives of what, the real S&P? 

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Guest CocolinoFan

@CaseynotesBut Warren Buffett famous says that you should invest in the S&P500 as an average individual. So he is not refereeing to "buying" into the index; but he is saying you should "bet" that the index will increase in value using a leverage account?

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@CocolinoFan, The big US indices have performed well over the long term, see the last 100 years of the Dow in the chart below for example.

There are many ways you could invest rather than speculate on a index, the most common would be via an index linked mutual fund or an exchange traded fund. In fact I think S&P ETFs are the most popular ETFs in existence.

1888358625_TheTop2.thumb.PNG.5c77fae228d0bd4758530b205ba758d0.PNG

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Guest CocolinoFan

@CaseynotesI understand there are many ways to invest. But this is not what I asked:

49 minutes ago, CocolinoFan said:

@CaseynotesBut Warren Buffett famous says that you should invest in the S&P500 as an average individual. So he is not refereeing to "buying" into the index; but he is saying you should "bet" that the index will increase in value using a leverage account?

I want to buy indexes not ETFs. So you are normally able to buy into an index but IG dose not let you do that with the S&P it just lets you speculate. Is this true or not?

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